EFSD Executive Director meets with the Minister of Finance of the Kyrgyz Republic
Moscow, 23 July 2019. Andrey Shirokov, Executive Director of the Eurasian Fund for Stabilization and Development (EFSD) managed by the Eurasian Development Bank (EDB), met with Baktygul Jeenbaeva, Minister of Finance of the Kyrgyz Republic, during EFSD delegation's visit to Bishkek.
The sides commended the current level of their bilateral cooperation and discussed their key mid-term plans and the future of their strategic partnership. In particular, they discussed priorities in the joint work aimed at developing and promoting investment and grant projects in the Kyrgyz Republic.
“The effective dialogue and strategic partnership the Kyrgyz Republic and the EDB/EFSD have built let us count on successful developments in our joint work. We are ready to actively support projects that are of strategic importance to the Kyrgyz Republic,” Andrey Shirokov commented.
The Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. The EDB's charter capital totals US $7 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan.
The Eurasian Fund for Stabilization and Development (EFSD) amounting to US$8.513 billion was formed on 9 June 2009 by the governments of the same six countries. The objectives of the EFSD are to assist its member countries in overcoming the consequences of the global financial crisis, ensure their economic and financial stability, and foster integration in the region. The EFSD member countries signed the Fund Management Agreement with Eurasian Development Bank giving it the role of the EFSD Resources Manager.
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